No Signboard Holdings Ltd - Balloting Results

Posted by Mr. IPO October 13, 2024

Food Innovators Holding Limited

Food Innovators Holdings Limited ("FIH" or the "Company") is offering 14m shares at $0.22 each, for which 13m shares will be through placement and the remaining 1m shares via a Public Offer. The IPO will close on 14 Nov at 12 noon and starts trading on 16 Oct 9am. FIH has two business models - the first is to be a master lease and sublease the space to other tenants and the second is to operate and manage restaurants. The Company currently has 12 restaurants in Japan, 10 in Singapore and 4 in Malaysia. The market cap based on the IPO price is around $24.9m. Financial Highlights FIH's revenue grew from $37.8m in FY2022 to $43.8m in FY2024. It is quite funny to see that being a master land lease holder has a higher margin than operating the restaurants, once again illustrating the point that it is better to be a landlord to shake leg and collect rent. According to the prospectus, the PER is around 19x. The Company intends to pay 20% of its net profit after ...

No Signboard Holdings Ltd ("No Signboard" or the "Company") announced that its IPO of 65,734,500 shares received overwhelming response from investors.

At the close of IPO, the public tranche of 2.5m shares was 268.6x subscribed.

Commenting on the strong support for the IPO, Mr Sam Lim (林荣森), Executive Chairman and Chief Executive Officer of No Signboard said, "We are very encouraged by the overwhelming response to our IPO from cornerstone investors, institutional investors and the public, as they clearly recognise our growth potential. We have had over 30 successful years in the F&B business and to bring the Group to the next level, with the aim of delivering significant growth in shareholders' value, we will focus on our expansion roadmap that includes launching a new casual dining concept, expanding our premium beer operations and venturing into the ready meal business."